TrueCar (NASDAQ:TRUE) Stock Crosses Below 200 Day Moving Average – What’s Next?

Shares of TrueCar, Inc. (NASDAQ:TRUE) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.34 and traded as low as $1.51. TrueCar shares last traded at $1.51, with a volume of 364,499 shares trading hands.

Analyst Ratings Changes

Several brokerages recently issued reports on TRUE. Citigroup cut shares of TrueCar to an “underweight” rating in a report on Thursday, March 27th. Needham & Company LLC decreased their price objective on TrueCar from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. StockNews.com lowered TrueCar from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. downgraded TrueCar from a “neutral” rating to an “underweight” rating in a report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, TrueCar currently has a consensus rating of “Hold” and an average price target of $4.63.

TrueCar Trading Down 6.6 %

The company has a market cap of $123.03 million, a price-to-earnings ratio of -4.15 and a beta of 1.72. The business has a fifty day moving average of $2.49 and a two-hundred day moving average of $3.33.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $46.21 million during the quarter, compared to analysts’ expectations of $47.30 million. TrueCar had a negative net margin of 17.68% and a negative return on equity of 17.54%. On average, research analysts forecast that TrueCar, Inc. will post -0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On TrueCar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC acquired a new stake in shares of TrueCar in the third quarter valued at about $36,000. FMR LLC grew its stake in TrueCar by 23.7% during the 3rd quarter. FMR LLC now owns 380,636 shares of the technology company’s stock valued at $1,313,000 after acquiring an additional 73,041 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in TrueCar by 15.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock valued at $210,000 after acquiring an additional 8,027 shares during the last quarter. State Street Corp lifted its stake in TrueCar by 0.9% in the 3rd quarter. State Street Corp now owns 1,790,659 shares of the technology company’s stock worth $6,178,000 after purchasing an additional 16,127 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of TrueCar by 19.4% during the 3rd quarter. Jane Street Group LLC now owns 99,586 shares of the technology company’s stock worth $344,000 after purchasing an additional 16,163 shares during the last quarter. Institutional investors and hedge funds own 79.44% of the company’s stock.

About TrueCar

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.